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Nigeria exits global money-laundering watchlist

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6 months ago

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President Bola Tinubu has hailed Nigeria’s removal from the Financial Action Task Force (FATF) “grey list” as a major milestone for the country’s economy and financial integrity, describing it as “a strategic victory for our economy and a renewed vote of confidence in Nigeria’s financial governance.”

The FATF, which serves as the global watchdog on money laundering and terrorist financing, announced Nigeria’s delisting at its October 2025 plenary session held in Paris, France. The decision came after Nigeria fully implemented a 19-point action plan aimed at strengthening its Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) framework.

In a statement released by his Special Adviser on Information and Strategy, Bayo Onanuga, President Tinubu said the achievement reflected his administration’s determination to restore credibility and transparency to Nigeria’s financial system.

“Nigeria’s removal from the grey list is not just a technical accomplishment but a strategic victory,” Tinubu said. “It reaffirms our position as a trusted player in the global financial community.”

Nigeria was placed on the FATF grey list in February 2023 due to weak enforcement mechanisms, poor inter-agency coordination, and opaque financial practices. Tinubu said his administration treated the designation as a challenge to drive reforms, directing key agencies to introduce sweeping structural and legal changes.

Under his directive, the Nigerian Financial Intelligence Unit (NFIU), in collaboration with the Ministries of Finance, Justice, and Interior, as well as the Office of the Attorney-General, led a coordinated national effort to meet FATF standards.

Tinubu praised NFIU Director and Chief Executive Officer, Hafsat Bakari, for leading the process. “Her team’s diligent and timely implementation of Nigeria’s commitments earned the country international recognition for tackling serious financial crimes,” he said.

See also  Tinubu axes two N’Assembly bills over policy clash

Bakari confirmed the FATF decision in a statement, calling it “a true test of the country’s resilience, coordination, and unwavering commitment to reform.”

“The FATF has officially removed Nigeria from the list of jurisdictions under increased monitoring, commonly known as the grey list,” she said. “This milestone marks a historic moment in Nigeria’s fight against serious financial crimes and underscores our commitment to global standards.”

She highlighted key reforms that contributed to the delisting, including the enforcement of the Money Laundering (Prevention and Prohibition) Act 2022 and the Terrorism (Prevention and Prohibition) Act 2022, as well as the operationalisation of the Beneficial Ownership Register. The reforms also strengthened oversight of designated non-financial businesses and enhanced the ability of intelligence and law enforcement agencies to investigate and prosecute financial crimes.

Bakari commended President Tinubu’s leadership, the National Assembly, the judiciary, and private sector partners, urging all stakeholders to maintain the reform momentum to preserve global compliance.

At the same plenary, the FATF also removed South Africa, Mozambique, and Burkina Faso from the grey list, citing major improvements in their financial integrity systems.

Analysts said Nigeria’s exit from the watchlist is expected to ease cross-border transactions, attract foreign investment, and boost confidence in the country’s financial sector.

Tinubu said the decision marked “the beginning of a new chapter in Nigeria’s financial reform agenda,” pledging that his administration would “sustain institutional reforms, deepen collaboration, and continue to build a financial system that Nigerians and the world can trust.”

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Assassination Attempt: Why People Want Me Dead – Trump

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3 hours ago

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April 26, 2026

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United States President, Donald Trump, has shared his thoughts on why he has faced repeated assassination threats.

It was reports that he spoke while reacting to a shooting incident that disrupted a media event in Washington.

The incident happened on April 25, 2026, during the White House Correspondents’ Dinner held at the Washington Hilton. A gunman caused panic at the gathering, forcing security to act quickly and bringing the event to an abrupt halt.

Speaking after the situation was brought under control, Trump said he believes people who make great changes often become targets.

He linked the attack to his time in office, saying his actions and decisions have affected the country in ways that not everyone supports. He also compared such situations to past events involving well-known leaders who were attacked because of their influence.

The president referred to his past experience, including surviving an earlier assassination attempt at a campaign rally in 2024. He said, despite the risks attached to his position, he continues to live his life without fear and does not see himself as someone shaken by such threats.

He said, “I’ve studied assassinations. I must tell you the most impactful people, the people that do the most… they’re the ones that they go after. I hate to say I’m honoured by that, but I’ve done a lot. We’ve changed this country, and there are a lot of people that are not happy about that. I lead a pretty normal life, considering, you know, it’s a dangerous life. To be honest, I’m not a basket case. A tremendous amount of love and coming together. I was ready to give the most inappropriate speech ever made.”

See also  Trump vows to push homeless people out of US capital

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I Won’t Forget What IGP Disu Did To Me When I Was Under House Arrest – Obasanjo

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4 hours ago

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April 26, 2026

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Former President, Olusegun Obasanjo, has expressed gratitude to the Inspector-General of Police, Olatunji Disu, for the role he played during the period he was placed under house arrest in 1995.

It was reports that the former Nigerian leader made this known in an interview with News Central, where he spoke about the difficult time he faced while being held under restriction during the military era. The development dates back to 1995 when Obasanjo was detained under the regime of Sani Abacha.

Obasanjo explained that during that period, a number of individuals stood by him and helped ensure his safety despite the tense situation. Among those he mentioned was the current police boss, whom he credited as one of the people who played a part in keeping him alive while he was under house arrest.

He said the experience remained one of the toughest moments in his life and added that he has not forgotten those who showed him care and support at the time. According to him, it was necessary to openly appreciate such efforts, as people who stand by others in difficult times should be remembered.

He said, “Current IGP, I have to in a special way acknowledge you because maybe the reason I am alive today is because you are one of those who kept me alive when I was under house arrest.”

Beyond his appreciation, the former president also spoke on the country’s security situation. He called for the creation of state police, saying it could help address the rising security concerns across Nigeria.

See also  Tinubu axes two N’Assembly bills over policy clash

Obasanjo explained that policing at the state level would allow officers to better understand their local environment and respond more quickly to threats. He added that such a system would help tackle crimes early before they grow into wider problems.

He maintained that Nigeria needs practical steps to deal with insecurity and insisted that state police remains one of the options that could strengthen law enforcement across the country.

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‘Na Hunger And Greed’ – Reactions As Tinubu’s ‘Supporter’ Struggles To Take Photo With Peter Obi

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5 hours ago

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April 26, 2026

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Some Nigerians have claimed that hunger and greed are driving many citizens to support the re-election of President Bola Tinubu.

It was reports that this remark follows a video of Tinubu’s supposed supporter struggling to take a photo with former presidential candidate of Labour Party (LP), Peter Obi.

In the viral video, the man, wearing a cap bearing Tinubu’s insignia, joined other Nigerians as they tried to take a photo with Peter Obi.

The video has sparked mixed reactions from netizens.

@thefoodnetworking wrote: “Politicians dey get shame?”

@chinny005 wrote: “Dear APC supporters, we know you are only supporting because of your pockets, you can still vote for ADC on Election Day and God will bless you!”

@officialblessingnwakwo wrote: “We all know d truth, Peter Obi is loved by many.”

@freshbaba wrote: “Tinubu for mouth, Peter Obi for heart”

@nigerianguy wrote: “Na hunger and greed make most of them Dey wear the cap.”

@democraft wrote: “I never hear of celebrity P0litician before… Na Obi make me know say P0liticians fit be celebrity.”

@misschedel wrote: “An example of I will collect the cap nd still be with who I found fit “

@nochiz wote: “People maybe supporting tinubu for the money they get from it but deep down we all know obi is our best choice. I will vote for him again. And for the picture…. At dome point he has to answer to his children”

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See also  ₦39 Billion: ‘Renovation At Bola Tinubu ICC Cannot Be Called Anything Else Other Than Scam’ – Deji Adeyanju
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